Before the CPI data release, the probability of the Fed keeping interest rates unchanged in June is 98.2%

According to the CME FedWatch Tool, the probability of the Fed maintaining the current interest rate in June is 98.2%, and the probability of a cumulative 25-basis-point rate cut is 1.8%. The probability of the Fed maintaining the current interest rate in July is 85.8%, the probability of a cumulative 25-basis-point rate hike is 12.6%, and the probability of a cumulative 25-basis-point rate cut is 1.6%.